The Pi Network recently introduced a new liquidity pool combining SLICE and Test-Pi tokens. This pool uses an automated market maker to set swap prices based on token balances, giving users a decentralized way to trade before the mainnet launch.
To kick off the experiment, the Pi team handed out 10 million SLICE test tokens to pioneers, letting them explore token swaps firsthand. The pool pairs the ecosystem's main token with SLICE, facilitating price discovery and liquidity through decentralized market-making mechanisms alongside the Pi DEX order book.
Market Reaction and Whale Activity
Following this launchpad test, PI nudged up 5.8% to reclaim the $0.08 resistance level. However, technical indicators tell a different story. The ADX SMA, a momentum gauge, kept sliding while directional indexes suggested strong downside pressure. The Momentum Adjusted Moving Average hovered above PI’s price, hinting that the recent gains might be short-lived.
Data from CryptoQuant shows whale orders have been predominantly selling over the past week, underscoring the low demand. Spot Taker Cumulative Volume Delta remained in negative territory, pointing to sellers controlling the market. This selling pressure makes it likely that PI will dip below $0.08 again, targeting around $0.076 as the next support.
The trend suggests that despite the excitement around the SLICE liquidity pool, large holders remain bearish, which keeps PI’s price momentum weak.
This content is for informational purposes and does not constitute financial advice.
